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On Thursday, AGL traded above R500, exceeding the R478 upside target.
At current levels, the share is in a high bullish momentum phase, while also approaching an overbought range.
Traders need to monitor for a deteriorating short term candle structure which could mean that the upside momentum is being lost. Failure to the previous session(s) range highs, would suggest that an ultra short term reversal is underway (possible tactical short/sell setup).
The share is extended versus it's 21-DAY EMA by the most since December 2022. This shows the extent of the short term overbought conditions.
In the pairs space, the LONG AGL vs SHORT KIO idea is now higher by 20%.
The current chart, with the potential short term price path is shown below.
On Thursday, AGL traded above R500, exceeding the R478 upside target.
At current levels, the share is in a high bullish momentum phase, while also approaching an overbought range.
Traders need to monitor for a deteriorating short term candle structure which could mean that the upside momentum is being lost. Failure to the previous session(s) range highs, would suggest that an ultra short term reversal is underway (possible tactical short/sell setup).
The share is extended versus it's 21-DAY EMA by the most since December 2022. This shows the extent of the short term overbought conditions.
In the pairs space, the LONG AGL vs SHORT KIO idea is now higher by 20%.
The current chart, with the potential short term price path is shown below.